airports authority of jamaica - Norman Manley International Airport

Transcription

airports authority of jamaica - Norman Manley International Airport
ANNUAL REPORT 2010-2011
AIRPORTS AUTHORITY OF JAMAICA
CORPORATE
DATA
BOARD OF DIRECTORS
MARK HART - Chairman
AUDITORS
PRICEWATERHOUSECOOPERS
CHARLES HEHOLT - Vice-Chairman
EARL RICHARDS - President
MARCUS JAMES - Director
VALERIE SIMPSON - Director
WILLIAM SHAGOURY- Director
DENNIS P. MORGAN - Director
FAY HUTCHINSON - Director
RANSFORD BRAHAM - Director
BANKERS
BANK OF NOVA SCOTIA JAMAICA LIMITED
NATIONAL COMMERCIAL BANK JAMAICA LIMITED
RBTT BANK JAMAICA LIMITED
COMPANY SECRETARY
LISA-KAYE ALLEN HENRY
COMPANY SECRETARY
CORPORATE OFFICE
AIRPORTS AUTHORITY OF JAMAICA
NORMAN MANLEY INTERNATIONAL AIRPORT
ADMINISTRATION BUILDING
PALISADOES, JAMAICA
LISA-KAYE ALLEN HENRY
COMMUNICATIONS
SUBSIDIARY COMPANY
NMIA AIRPORTS LIMITED
ATTORNEYS-AT-LAW
MYERS FLETCHER & GORDON
TELEPHONE: (876) 924-8835-7
FAX: (876) 924-8419
WEBSITE: WWW.AAJ.COM.JM
E-MAIL: AAJ@AAJ.COM.JM
AIRPORTS AUTHORITY OF JAMAICA
A nn u a l R e p ort
2010-2011
CONTENTS
4
Airport History
5
Vision and Mission Statements
6
Corporate Core Values
8
Chairman’s Message
14
President’s Message
27
Board of Directors
29
Executive Team
30
Operational Performance
39
Independent Auditors’ Report to the Members
Financial Statements:
41
Group Statement of Comprehensive Income
42
Group Balance Sheet
43
Group Statement of Changes in Equity
44
Group Statement of Cash Flows
45
Authority Statement of Comprehensive Income
46
Authority Balance Sheet
47
Authority Statement of Changes in Equity
48
Authority Statement of Cash Flows
49
Notes to the Financial Statements
AIRPORT HISTORY
The Airports Authority of Jamaica (AAJ) was established in 1974, under
the Airports Authority Act as an independent statutory body to manage
and operate both the Norman Manley International (KIN) and Sangster
International (SIA) Airports. In 1990 the AAJ was given the operational
responsibility for the four domestic aerodromes namely; Tinson Pen in
Kingston, Ken Jones in Portland, Boscobel in St. Mary and Negril in
Westmoreland.
Sangster International Airport was privatised in April 2003 and is now
operated by MBJ Airports Limited (a private consortium) under a
thirty-year concession agreement with the AAJ. NMIA Airport Ltd, a
wholly owned subsidiary of AAJ, was established in October 2003, as
the airport operator for the Norman Manley International Airport under
a thirty-year concession agreement with the AAJ.
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Airports Authority | Annual Report 2010 - 2011
VISION STATEMENT
“To build and sustain a world-class airport system, which facilitates
private investment and partnership and positions Jamaica’s airports as
the gateway to the Caribbean and the Americas”.
MISSION STATEMENT
“To develop a modern, safe and profitable airport system that is
environmentally responsible, provides world-class service, and contributes
substantially to the national economy while promoting the expansion
of air transportation and its related industries.”
Airports Authority | Annual Report 2010 - 2011
5
CORPORATE CORE
VALUES
In an atmosphere of honesty, fairness, and integrity, we commit to our
core organizational values – People, Customer Focus, Integrity, Financial
Management, Regulatory and Statutory Requirements, Safety and
Security and Environment. These values are detailed below:
PEOPLE
We will treat each person fairly with respect and dignity, while
encouraging employee competence, motivation and productivity.
CUSTOMER FOCUS
We are customer-driven, will demonstrate a sense of urgency,
and provide quality service to both internal and external customers
INTEGRITY
We will keep our promises, deliver on our commitments, be open,
honest and engage in continuous communication and direct dialogue
with our stakeholders.
FINANCIAL MANAGEMENT
We are committed to prudent financial management, which ensures
value for expenditure and a reasonable return for our shareholders.
REGULATORY AND STATUTORY REQUIREMENTS
We will ensure that the airports conform to the agreed standards
established by regulatory and statutory bodies and lending agencies.
SAFETY AND SECURITY
We will ensure that the airports establish and maintain the highest
level of safety and security for all users.
ENVIRONMENT
We will ensure that the airports are committed to sustainable
environmental practices that facilitate compliance with established
standards, laws and regulations.
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Airports Authority | Annual Report 2010 - 2011
AAJ CHAIRMAN, MARK HART (RIGHT) PRESENTS A PLAQUE TO AIRPORT PROTECTION
SERVICE (APS) OFFICER JOSEPH DALRYMPLE FOR MERITORIOUS SERVICE DURING
THE AA 331 INCIDENT WHICH OCCURRED IN 2009 DECEMBER.
CHAIRMAN’S
MESSAGE
The past year was a challenging one for the local air transport
sector as the impact of the slow economic recovery of our
main trading partners and our local economy, restrained
growth in airport traffic. Notwithstanding this fact, the Directors,
Management and staff of the AAJ Group, in partnership with
our stakeholders, forged ahead with the process of building
the airport infrastructure and service quality of our airports and
aerodromes to world class standards.
One major achievement for the fiscal year was the launch
of Jamaica’s new international port of entry; the Ian Fleming
International Airport (IFIA), which received its name form the author
of the famous James Bond novels. This airport, which is an
upgrade of the former Boscobel aerodrome in St. Mary, is
adjacent to the North Coast highway and is strategically situated
to serve tourism clientele from St. Ann to Portland. It is in close
proximity to several high-end tourism properties and will easily
facilitate owners and operators of a wide range of general
Mark Hart - Chairman AAJ
aviation aircraft, thereby providing a boon to the tourism industry.
RIBBON CUTTING EXERCISE LED
BY PRIME MINISTER HONOURABLE
ORRETTE BRUCE GOLDING (4TH
RIGHT) AT THE LAUNCH OF THE IAN
FLEMING INTERNATIONAL AIRPORT
ON 2011 JANUARY 12.
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Airports Authority | Annual Report 2010 - 2011
Chairman’s Message cont’d
We were delighted to have the prime minister delivering
major factors that adversely affected the expected
the main address at the official opening of this new
revenue performance were the non-realisation of the
facility on 2011 January 12 and we anticipate a steady
additional concession fee income from MBJ and the
growth in general aviation traffic as we partner with
delayed implementation of the Ian Fleming International
tourism interests to market this new friendly gateway
Airport from which revenues were budgeted. With
into the country.
regard to operating expenses; staff, security and
For the fiscal year, 2010 April to 2011 March,
passenger traffic showed a slight reduction of 0.75%
against the previous year moving from 4,871,173 in
2009/10 to 4,834,791. However, cargo traffic and
maintenance costs are the principal drivers of
additional expenditure and these are among the areas
targeted for special attention under the organisation’s
cost management programme.
aircraft movements have seen improvements of
The Sangster International Airport (SIA), operated by MBJ
2.76% and 4.33% respectively. Cargo volumes moved
Airports Limited, welcomed a new CEO, Mr. Eduardo
from 15,198,740 in 2009/10 to 15,617,929 and
Canelas in 2011 January. Mr. Canelas, who hails
aircraft movements from 60,350 to 62,965. No doubt,
from Bolivia, takes over the reigns from Mr. Fernando
issues such as rising oil prices, the 2010 April
Bosque to whom we express thanks for his contribution
Volcanic eruption in Iceland and the 2010 May civil
to the development of the airport.
unrest in West Kingston impacted traffic outturns. We
anticipate further improvements in these numbers,
however, as the economies of our main destinations
continue to recover. We also continue to anticipate a
favourable outcome and transition process from the
sale of Air Jamaica to the expanded operations of
Caribbean Airlines.
The AAJ Group continues to achieve an operating
surplus. For the period 2010 April - 2011 March 31
a surplus of $605.2m was realised, compared with a
budgeted surplus of $277.8m. Operating revenue was
above budget by $455.8m, to give a total of $3,326.1m
(2009/10: $3,104.3m), while operating expenses
amounted to $2,720.9m (2009/10: $2,502.5m), an
increase of $128.4m over the budgeted sum. Two
EDUARDO CANELAS, CEO-MBJ
AIRPORT LIMITED
Airports Authority | Annual Report 2010 - 2011
9
Chairman’s Message cont’d
As Jamaica continues to be a strong tourist destination
in the Caribbean, the Sangster International Airport also
benefited from the growth of new airlines, new routes
and increased capacity. During the period under
review, a number of new airlines commenced service
into Sangster and increased the frequency or capacity
of strong routes. Canada remains the fastest growing
inbound market for the airport.
With construction of the
main terminal finished,
MBJ Airports Limited is
now focused on improving
the customer experience
through the facility, working
with community and airport
partners to improve access
to Jamaica through Sangster International Airport
and developing the look
and appearance of the facility towards developing the
“Sense of Place”.
GREETING ARRIVING PASSENGERS (SIA)
Partnerships forged with Immigration, Customs and
the Concessionaires are essential to the continued
improvement of service levels at SIA. This partnership
has earned SIA the recognition of being awarded the
Caribbean’s Leading Airport for 2010 by the World
Travel Award.
MBJ unveiled the first major commissioned piece of
artwork in the arrivals immigration hall. Commissioned
in 2009, after receiving over 50 proposals from artists
living in Jamaica and Jamaican artists living aboard, Irish
born artist Fiona Godfrey completed a mural depicting
scenes from all over Jamaica. Impressive in its size, the
artwork spans the entire length of the entrance to the
Immigration hall and is almost sixty-five feet (65’) long
and twelve feet (12’) high. Drawing on over 20 years
of living in Jamaica, Ms. Godfrey created a piece that
demonstrates the beauty of the land and people of Jamaica.
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Airports Authority | Annual Report 2010 - 2011
MURAL BY FIONA GODFREY DEPICTING SCENES FROM ALL OVER JAMAICA (SIA)
Airports Authority | Annual Report 2010 - 2011
11
Chairman’s Message cont’d
With regard to the Norman Manley International Airport (NMIA)
our subsidiary, NMIA Airports Limited, continued its drive to
build the commercial offerings of the airport having completed
the expansion of the Departures Terminal and practically
completed the new-look Arrivals Forecourt.
T h e n e w F o re c o u r t h a s b e e n d e s i g n e d t o
accommodate additional “out turned shops” to
facilitate the commercial needs of all airport users.
Already the Mini-mart, has been a welcome feature
for airport staff, travellers and visitors, and efforts
continue to identify suitable retailers (food and
PINEAPPLE LOUNGE (NMIA)
personal care) for the commercial spaces now
available. The Pineapple Lounge, operated by NMIA
Airports Limited in the Transportation Hall, caters to our
corporate clients and special groups. The Lounge
is also available for press conferences as well as
business meetings, and has added a classy flavour to the
already stylish Hotel Lounges which are available for visitors and
returning Jamaicans to enjoy.
NMIA also continued its drive to improve in its service quality
delivery, as evidenced in the passenger’s overall rating of our
services for the past three calendar years 2008 – 2010 (Table
1). These ratings, which were derived from our monthly survey
of customer perceptions, are monitored closely to ensure that
customer needs are addressed. Moreover, additional equipment,
such as a second ambulance and a Mobile Water Tank have
been acquired to facilitate our clients. The airport also anticipates
delivery of a new Rescue Boat and an Aircraft Rescue and
Fire Fighting Unit in the first quarter of the 2011/12 fiscal year.
The Privatisation agenda for NMIA continued during the period,
with work done by the government appointed enterprise
team to identify a lead consulting firm. Limited progress was
made on the pending relocation of the Tinson pen Aerodrome
and the occupation of aerodrome lands by the Port Authority of
Jamaica, in keeping with their planned operational expansion.
Dialogue will continue during the new fiscal year to advance
this Cabinet decision.
12
Airports Authority | Annual Report 2010 - 2011
AIR TRAN AIRWAYS (SIA)
Major capital works which are to commence in the medium
term include: the implementation of Runway End Safety Area
(RESA) and Runway Extension projects at both international
airports (guided by revised Master Plans); the construction
of new Air Traffic Control Towers (ATC) by the Jamaica Civil
Aviation Authority (JCAA) and the development of NMIA’s east
airfield to facilitate the expansion of its cargo operation and
the growing demand for General Aviation Hangars.
The AAJ is undaunted by the challenges which face the global
and local aviation sector and we are committed to positioning
Jamaica’s airports as the gateway to the Caribbean and the
Americas. In keeping with National Outcome #9 of Vision
2030 Jamaica, we remain steadfast in the pursuit to “Expand
domestic and international air transport infrastructure and
services and Develop Jamaica as a regional hub with multimodal
transport linkages”.
I would like to recognise the work of the JCAA in its initiative
to stimulate additional air traffic into the island by the waiver
of navigational fees for general aviation aircraft, as well as
its development plans at the airports. I also commend the
management and staff of the AAJ, NMIAL and MBJ for
another year of dedicated service, and thank my colleagues
on the Board, as well as our airport stakeholders, for the
growing partnership in expanding the quality and diversity
of air transportation services in our island home.
Mark Hart
Chairman
Airports Authority | Annual Report 2010 - 2011
13
PRESIDENT’S
MESSAGE
Overview
The rebound of the air transport business became more evident
over the past year as signs of recovery from the global
economic crisis continue to emerge. Preliminary world airport
traffic reports published on the Airport Council International
(ACI) website indicate that a record 5 billion passengers travelled
in the 2010 calendar year which represents a 6.3% increase
over the previous year. This growth was robust in the Middle
East, Asia Pacific and some Latin American-Caribbean countries,
but less evident in North America and Europe.
North America, our primary travel market, experienced modest
passenger traffic growth of 2.4% in 2010. Jamaica, however,
recorded a 1% reduction in international passenger traffic.
Notwithstanding this, it is anticipated that Jamaica’s air
transport industry will return to a growth path provided that
global expansion trends continue.
During the past fiscal year, 2010-2011, several route developEarl Richards -President/CEO
AAJ & NMIA Airports Limited
ment initiatives were undertaken by both airports to expand
the number of carriers and routes serving the island. Several
measures were taken to increase non-aeronautical revenues
and to curtail operating costs through cost management
initiatives to counter the impact of the less than robust business
environment which faced the industry. These challenges
included the fiscal constraints within the economy under
the new IMF Agreement, the rising cost of travel, due to
increased fuel price and the Air Passenger Duty (APD) imposed
by Britain as well as the adverse travel advisories issued by
a number of key territories in response to the 2010 May civil
unrest in Kingston. Nonetheless, the Authority pressed ahead
with programmes and initiatives to enhance the development
of a modern, safe and profitable airport system for Jamaica,
consistent with its Mission.
14
Airports Authority | Annual Report 2010 - 2011
President’s Message cont’d
Financial Results for the AAJ group reflected a $221.8m
increase in Operating Revenue compared with the
previous year, moving from $3,104.3m in 2009/10 to
$3,326.1m at the end of 2011 March. This significant
increase reflected a positive variance of 15.9%
compared with the budget of $2,870.3m. Operating
expenses amounted to $2,720.9m, which is an 8.7%
increase over the previous year ($2,502.5m) and a
5.0% increase when compared with the budget of
$2,592.5m. The Group therefore made an operating
surplus of $605.2m ($601.8m – 2009/10), showing a
positive variance of $277.8m over the budgeted sum.
AIRCRAFT AT NMIA
Airport Traffic Performance
Passenger traffic through our international airports
to Jamaica for tourists, returned to growth and
decreased by a marginal 0.75% over that of 2009/10;
recorded a 1.44% increase in traffic moving from
representing a marginal decline from 4,871,173
3,292,296 passengers in 2009/10 to 3,339,635 in
passengers in 2009/10 to 4,834,791 in 2010/11.
2010/11. NMIA, however, which caters primarily to
This however indicates a recovery in passenger traffic
business and Jamaican travellers, experienced a
trend, as the rate of decline continues to decrease,
marginally lower decline in passenger traffic than the
compared with the 2.56% decline in 2009/10 and
previous year, moving from 1,578,877 passengers in
6% in 2008/9. This performance was realized despite
2009/10 to 1,495,156 passengers in 2010/11 or 5.3%
the downsizing and sale of Air Jamaica to Caribbean
less travellers.
Airlines. Other carriers moved to take up the ‘fall
away’ of Air Jamaica seats, but only at the Sangster
International Airport (SIA).
Aircraft movements improved when compared with
the previous year and recorded a 4.33% growth in
2010/11 when compared with the previous year.
SIA, which accounted for approximately 69.08% of
62,665 movements were recorded in 2010/11 versus
total passenger traffic and is the primary gateway
60,350 in 2009/10. SIA, accounting for just over 63%
Airports Authority | Annual Report 2010 - 2011
15
President’s Message cont’d
of total aircraft movements; an improvement of 4.79%,
moving from 37,990 flights in 2009/10 to 39,811 in the
reporting period. NMIA also showed an increase in aircraft
movements of 3.55%, resulting in a total of 23,154 flights
in 2010/11 up from 22,360 movements in 2009/10.
Cargo volumes at the international airports returned to
growth, in keeping with global trends. Over the period,
total cargo volumes increased by 2.76%, from 15,198,740
in 2009/10 to 15,617,929 in 2010/11; this compared
with the 17.79% reduction in the previous period. NMIA
continues to handle the bulk of air cargo into the country
(approximately 69%) and experienced a marginal 1.2%
increase in 2010/11 over 2009/10. Cargo volumes at SIA
rose by 6.34% over the levels in 2009/10.
AIRCRAFT LANDING AT NMIA
AIR TRAN AIRWAYS AT SIA
16
Airports Authority | Annual Report 2010 - 2011
President’s Message cont’d
Sangster International Airport (SIA)
Jamaica remains an attractive destination that is
to the 12% growth in 2010 from the Canadian market
relatively close to the United States and Canada,
and over 254,998 seats available from Canada.
therefore signs of economic recovery in the United
Total Pax 2010
States have contributed to modest growth in inbound
Budget
tourism arrivals through Sangster International
Airport (SIA)
• Air Tran Airways, based in Orlando, entered the
2010
350
Pax (000’s)
New Air Services
2009
400
300
250
200
150
Montego Bay market with 18 flights per week
100
from Atlanta, Orlando and Baltimore.
Ja
n
Fe
d
M
ar
Ap
r
M
ay
Ju
ne
Ju
ly
Au
g
Se
pt
O
ct
No
v
De
c
ct
No
v
De
c
• Frontier airlines in an effort to test the market,
Total Pax 2011
started a seasonal charter service from St. Louis
Budget
with an eye to commence scheduled service in
2012 from their main hub in Denver, Colorado.
subsidiary of Air Canada, essentially replaced
services lost by the bankrupt airline, Sky
300
250
200
Service. Jazz operated flights from Toronto,
150
Halifax and Montreal and intend to continue
100
their growth to Jamaica during winter 2011-12.
• Western Air – commenced service from Nassau,
Bahamas three times per week.
2011
350
Pax (000’s)
• Jazz Air, a new airline from Canada, formerly a
2010
400
Ja
n
Fe
d
M
ar
Ap
r
M
ay
Ju
ne
Ju
ly
Au
g
Se
pt
O
International scheduled passengers grew 5.85%
over 2009 and Charter grew 2.96%. However,
• JetBlue – continued to grow services to SIA
domestic traffic continued to decline largely due to the
with increased flights from New York and new
continued contraction of Air Jamaica services which
flights from Boston and Orlando.
fell by 8.54% below 2009 levels.
• WestJet commenced 24 weekly flights as of
The first three months of 2011 were positive, a
October 31, 2010 operating from virtually every
trend which it is hoped will continue throughout the
major city in Canada. This contributed significantly
calendar year.
Airports Authority | Annual Report 2010 - 2011
17
ARRIVALS EXIT (NMIA)
Norman Manley International
Airport (NMIA)
For the 2010/11 fiscal year, New York emerged as
the leading route for travellers to and from Kingston,
with 23% of total traffic at NMIA. This performance
indicates a change from the previously dominant Fort
Lauderdale route, which held the lead position in the
previous year (26% of total traffic) and ended the year
at second place with 21%.
Miami is now ranked third, down from second place,
followed by Toronto and London.
Air Jamaica continued to be the major carrier for NMIA
in 2010/11 with approximately 46% of total traffic,
compared with 38% the previous year. American
Airlines and Caribbean Airlines remained at second
and third place respectively at 17.7% and 6.6% during
the year under review.
Airport Operations
NMIA continues to improve its service quality and
offerings in a friendly, yet professional and cost efficient
manner. Our customer service staff has benefited from
enhanced training and we have been communicating
18
Airports Authority | Annual Report 2010 - 2011
President’s Message cont’d
passenger surveys results to key government and
Safety training has been ongoing at the airport including
non-government operators at the airport to sensitize
staff of Jamaica Customs and Immigration officers.
them of passenger feedback.
In addition, close collaboration is maintained with
various airport stakeholders to enable cost reduction
Aviation Security
The Airport Security (AVSEC) systems continue to
and management. This includes the management of
be improved with the addition of CCTV coverage at
energy consumption and a new fourth Quarter initiative
NMIA, the domestic aerodromes and the Ian Fleming
to “ramp down” airport operations soon after the
International Airport.
arrival/departure of the final flight.
NMIA Capital Development Programme
Financial Highlights - NMIA Airports Limited
Budget & Financing
Revenue passengers for the fiscal year under review
Phase 1A of the three phase Capital Development
amounted to 725,189, that is, 2.59% below the
budget of 744,459 and 3.28% below the previous
year’s number of 749,762.
However, operating revenue for NMIA Airports
Limited for the period was US$29,201k compared
Programme (CDP) for N M I A is progressing
towards completion of outstanding components by
the end of the financial year. This phase is budgeted
at US$120m of the total programme of US$161.09m.
Total expenditure to date is US$113.63m.
with US$24,580k for the previous year, representing
a 19% increase over the previous year. This result
Construction Works
was US$7,389k above the budgeted US$21,812k
With the Departures Terminal complete, with only
for the year. Operating expenses, for the period
(excluding concession fees) was US$25,930k
compared with US$22,829k for the previous year,
and the budgeted US$24,118k.
NMIAL recorded an operating profit of US$1,363k for
the year against a budgeted surplus of US$4,221k and
compared with a loss of US$184k for the previous year.
Aviation Safety
Significant investment was made to boost NMIA’s
aviation safety and response capabilities. A second
alterations and defects remediation outstanding,
the erection of a new NMIA Terminal sign and
completion of the Arrivals Forecourt (including
new shopping facilities), new walkway canopies and
a tour bus shed, are among other projects being
pursued. Works commenced in 2010 May on a project
to reposition a number of fuel hydrants on the
airside apron. It is anticipated that this project will be
completed by Quarter 2 in the new financial year.
On the horizon are projects to:
ambulance was acquired in Quarter 2 of 2010/11 and
• Increase the water storage capacity on the airport
arrangements were far advanced in procuring a new
to provide an additional 40K gals of potable water,
Aircraft Rescue and Fire Fighting Vehicle (ARFFV) as
• Enhance fire detection capabilities through the
well as a Rescue Boat. Delivery of the ARFFV and Boat
are expected in the new financial year. Adjustments
are being made to the Fire Station to accommodate
the new safety equipment and Airport Protection
Service (APS) employees are being provided with the
requisite training.
Airports Authority | Annual Report 2010 - 2011
terminal facilities
• Explore the implementation of Runway End Safety
Area (RESA). The environmental assessment of this
project is well underway with a public consultation
due to take place in the first quarter of the new
fiscal year.
19
President’s Message cont’d
Commercial Development
Commercial activity continued to be in focus during the
reporting period with work done to implement a new ground
handling contract for the general aviation facility at NMIA.
Additionally, NMIA welcomed a new international cambio
operator in the final quarter, which is improving and expanding
the services offered at the airport.
A contract was also awarded for the development of a new
Executive Lounge for departing passengers; this lounge will
incorporate all existing airline lounges on a pay-per-use basis.
The successful bidder has secured spaces previously operated
by Air Jamaica, American Airlines and British Airways and
is completing its build out to
provide a first class service to the
discerning passenger who wishes
to take full advantage of the NMIA
airport experience.
Additional retail concessions,
including coconut vending, which
has received good patronage and
a Mini-Mart located in the Arrivals
forecourt, has also become popular
among airport users. However,
plans to outfit the new concession
area created in the Arrivals
Forecourt has slowed as fast
food, non-food and personal care
entrepreneurs failed to respond
to invitations to tender, no doubt
as a result of the slow recovery in
passenger traffic and the prevailing economic /investment climate.
We are anticipating that innovative
COMMERCIAL ACTIVITY AT NMIA
entrepreneurs will emerge to create a niche for themselves
during the new financial year and in anticipation of the future
upswing in airport traffic.
New initiatives for the airport include:
• Implementation of an Arrivals Duty Free concession, in
keeping with the recent passage of the relevant legislation.
20
Airports Authority | Annual Report 2010 - 2011
President’s Message cont’d
• The development of private hangars, under
remote monitoring devices which enables authorised
Build-Own-Operate and Transfer (BOOT)
personnel to provide technical oversight of critical
arrangements; and new drainage and taxiway
airport assets and operations, including generators
enhancements in the east airfield to facilitate
and air-conditioning systems. Real-time monitoring
cargo operations and additional hangars.
of vehicular movements has also been implemented.
• Planning for phase 2 of the NMIA Cargo and
Logistic Centre
Energy Conservation
• Attracting non-travelling patrons to the airport
Energy management and conservation continues to
for entertainment, dining and other activities.
receive priority attention in view of the high cost to
the airport. Energy wardens have been appointed and
NMIA will continue its effort to increase traffic through
trained and a programme is being developed to provide
continued participation at Routes Conferences and
incentives for good energy conservation practices.
targeted discussions with both existing and prospective
airlines. Our efforts to forge stronger linkages with
tourism stakeholders of “Destination Kingston” as well
as to lobby for additional incentives which will attract
more airlines to fly into the capital city, will continue.
Engineering, Maintenance and the Environment
The Environment
Environmental conditions continue to be monitored
on the airport, with the aim of modelling ISO14001
standards in airport operations. Potable and waste
water quality are consistently measured in addition
to other environmental criteria. The programme of
In addition to civil works undertaken at NMIA,
plastic (PET) recycling continues and is being rolled
significant material and personnel resources went into
out to the wider airport community, with recycling bins
the project of upgrading the Boscobel Aerodrome
procured for distribution.
into a new international port of entry. This General
Aviation Airport was officially opened on 2011 January
12. Other achievements include the acquisition of
AIRCRAFT ON TARAMAC (NMIA)
Airports Authority | Annual Report 2010 - 2011
21
President’s Message cont’d
9. Standby Generator & Upgrading Electrical
Power Supply – to ensure availability of runway
lights during electrical power outage
10. JPS underground bypass power lines –
to remove a major obstacle to arriving and
departing aircraft
11. Aviation Security (AVSEC) Upgrading –
installation of X-Ray and other security scanning
equipment and cameras for remote surveillance
12. Improved Information Communications technology.
In addition to the capital works, plans were implemented
for the Introduction of border control services such as
Immigration and Customs processing as well as for
IAN FLEMING INTERNATIONAL AIRPORT
health and quarantine functions.
The launch event, which took place on 2011 January
Ian Fleming International Airport
12 was very well supported by government officials,
The project to upgrade the Boscobel Aerodrome
Golding, along with our portfolio Minister, Honourable
into an international port of entry was approved in
Mike Henry; the Fleming family, hotel and tourism
led by the prime minister, Honourable Orrette Bruce
2009 October by Cabinet and budgeted at J$310.9m.
officials, community stakeholders and other
Works included:
distinguished guests. As we market the facility at
1. Runway Extension of the present runway length
from 3000 ft. to 4800 ft.
general aviation air shows and within the tourism
sector, we project that IFIA will become the preferred
gateway for visitors to high end tourism properties.
2. Upgrading and widening of the original 3000 ft.
runway strip
3. New Terminal Building – as the existing terminal
building was grossly inadequate and encroached
on the runway strip
4. Apron construction – for aircraft parking
& taxiway
5. Fire Truck Garage – relocation and upgrading
6. Air-field Lighting – a new runway lighting
system, as per ICAO Annex 14, was to be
installed along the extended runway
7. Airside markings and visual aids – Provide
appropriate visual aids and runway markings
8. Perimeter Fencing – installation of extensive
new and upgraded perimeter fencing
Aerodromes
Ken Jones Aerodrome
Limited capital work was done during the period at
the aerodrome facility. This included the installation
of CCTV and a weather station, repairing the roof
and ceiling, as well as grilling the administrative office.
Traffic volume remains very low.
Tinson Pen Aerodrome
Tinson Pen is the busiest of the three aerodromes and
also has the widest range of activities taking place
at the facility. Commercial Passenger traffic from
Tinson Pen is mainly to Montego Bay (SIA). During the
period under review renovation work was done to the
restaurant, fire station, and the administrative office.
The fuel farm is also being refurbished.
22
Airports Authority | Annual Report 2010 - 2011
AVIATION DAY ACTIVITIES AT TINSON PEN AERODROME
The aerodrome also hosted a very successful “General
The following table (table 1) shows the staff count
Aviation Day” on 2010 May 01 which was well supported
for the AAJ Group at the start and end of the
by students and the general public.
reporting period:
Table 1
Negril
Plans to upgrade the Negril Aerodrome were deferred
APRIL 31,
MARCH 31,
to the new financial year as a comprehensive project is
2010
2011
being contemplated for the aerodrome’s development
Human Resource Development
and Administration
The AAJ group continued its evaluation of operations
NMIA
164
156
AAJ
25
22
AERODROME
21
24
210
202
TOTAL
to improve organisational efficiency and effectiveness.
Eight persons separated from the organization through
redundancies, early retirement, and resignation. The
organization also continued its strategy of redeploying
its human capital to fill vacancies created by the
separation of staff members.
Airports Authority | Annual Report 2010 - 2011
23
President’s Message cont’d
Learning and Development
Over the period 2010 April to 2011 March, approximately
one hundred and seventy-two (172) employees
participated in learning and development activities
across the organization, totalling five hundred and
thirty-five (535) man-days, that is an average of 3.11
man-days per person, surpassing the target of 2
man-days per employee. Training programmes
included Fundamentals of Air Transport Management,
In the area of sports, our footballers were crowned
KSAFA 5-a-side champions of the 32 team
competition, and our netballers also placed third
in the Business House Netball Association Junior
League. Members of the domino team were not to
be outshone. They were also winners of the Business
House Domino League and gained 5 places on the
Jamaica Team to the world championship in Costa
Rico for June 2011.
Airport Services and Administration, Aviation Security
Management, Air Passenger Targeting and Emergency
Response Management.
Organizational Change
In tandem with the transformation of the Public
Sector, a cross-functional Transformation Team was
Staff Development
established to guide changes to the operational
Over twenty (20) employees were enrolled in the
paradigm of the airport organization. Areas under
one-year Airport Services and Administration Certificate
programme. This Distance Learning Programme
offered by Sault College in Ontario, Canada, forms
consideration include: the development of a comprehensive airport performance matrix, and business
process mapping and reviews of core processes.
the basis of the organization’s succession planning
initiative which seeks to ensure a pool of competent
employees to assume critical, specialised aviation and
leadership positions. To date, ten (10) employees have
completed this programme.
Additionally, two members of the executive management
team completed the Global Airport Management
Professional Accreditation Programme (AMPAP)
provided through the Airport Council International.
This 7 module international certification programme
ensures depth at the senior management level and
reduces exposure to the loss of critical talent, thus ensuring business continuity in this specialized industry.
Employee Wellness & Sports
Over the period employees participated in the Health
Industrial Relations
The company enjoyed good relations with employees
and their trade union representatives.
Corporate Social Responsibility
AAJ and NMIAL Airports Limited remain committed
in its support for the Donald Quarrie High School
(DQ). Sponsorship was again provided for the
school’s Teachers’ Day function and the Best Class
Competition. Airport staff also willingly participated
in devotional activities as well as Boy’s and Girl’s
Day events. Two students were awarded tertiary
scholarships and plans are to continue to invest
in the holistic development of students at DQ. The
Authority is supporting educational institutions within
and Wellness Programme which promotes exercise
its environs and to this end contact has also been
through gym attendance, and wellness knowledge
made with targeted schools in the Montego Bay
through monthly wellness sessions. Through this
and Boscobel Areas where the other international
intervention our employees have been enlightened and
airports are located.
the company has successfully managed to reduce its
health insurance costs.
The organisation continues it landscaping programme
at the Rockfort/Windward Road intersection and the
Harbour View roundabout.
24
Airports Authority | Annual Report 2010 - 2011
President’s Message cont’d
Acknowledgements
The challenges presented during the past fiscal year were
more manageable because of the sterling effort of the
members of staff, our business partners, clients and other
airport stakeholders. I would like therefore to acknowledge
the Board of Directors for its policy guidance as well
as all those who contributed to further development of
the airport system. I trust that the new fiscal year will
provide great opportunities to build the service levels and
profitability within the local aviation sub-sector.
Earl Richards
President
AAJ PRESIDENT, EARL RICHARDS, (LEFT) SHARES A MOMENT WITH STAFF MEMBERS AT THE GENERAL AVIATION DAY
EVENT ON 2010 MAY 1 AT THE TINSON PEN AERODROME.
Airports Authority | Annual Report 2010 - 2011
25
BOARD OF
DIRECTORS
MARK HART
CHARLES HEHOLT
EARL RICHARDS
Chairman
Vice-Chairman
President
MARCUS JAMES
VALERIE SIMPSON
WILLIAM SHAGOURY
Director
Director
Director
DENNIS P. MORGAN
FAY HUTCHINSON
RANSFORD BRAHAM
Director
Director
Director
28
Airports Authority | Annual Report 2010 - 2011
EXECUTIVE
TEAM
FROM LEFT
(Back Row):
PAUL HALL, SVP Operations
NORMAN P. SAULTER, VP Engineering and Projects
CARVELL MCLEARY, Senior Director HRD & A
EARL RICHARDS, President
(Front Row):
MARK WILLIAMS, VP Commercial Development
AUDLEY DEIDRICK, VP Finance & ICT
LISA-KAYE HENRY, General Counsel
Airports Authority | Annual Report 2010 - 2011
29
OPERATIONAL
PERFORMANCE
Traffic Performance
FIN. YR.
30
NMIA
% CHANGE
SIA
2007/08
1,745,479
1.52%
3,572,051
5.31%
5,317,530
4.04%
2008/09
1,675,966
-3.98%
3,323,142
-6.97%
4,999,108
-5.99%
2009/10
1,578,877
-5.79%
3,292,296
-0.93%
4,871,173
-2.56%
2010/11
1,495,156
-5.30%
3,339,635
1.44%
4,834,791
-0.75%
Total
8,214,752
5,111,133
% CHANGE
1,719,274
16,918,983
TOTAL
2006/07
3,391,859
% CHANGE
25,133,735
Airports Authority | Annual Report 2010 - 2011
Operational Performance cont’d
Freight Performance
FIN. YR.
NMIA
% CHANGE
15,014,385
-0.07%
5,689,752
25.79%
20,704,137
5.91%
2008/09
13,419,671
-10.62%
5,394,901
-5.18%
18,814,572
-9.13%
2009/10
10,582,397
-21.14%
4,616,343
-14.43%
15,198,740
-19.22%
2010/11
10,709,081
1.20%
4,908,848
6.34%
15,617,929
2.76%
Total
64,750,892
19,548,463
% CHANGE
2007/08
25,132,949
TOTAL
15,025,358
4,523,105
% CHANGE
2006/07
Airports Authority | Annual Report 2010 - 2011
SIA
89,883,841
31
Operational Performance cont’d
Aircraft Movements
FIN. YR.
% CHANGE
-0.65%
44,434
-3.23%
67,816
-2.36%
2008/09
24,556
5.02%
39,990
-10.00%
64,546
-4.82%
2009/10
22,360
-8.94%
37,990
-5.00%
60,350
-6.50%
2010/11
23,155
3.56%
39,811
4.79%
62,966
4.33%
69,452
% CHANGE
23,382
208,142
TOTAL
2007/08
45,917
% CHANGE
23,535
116,988
SIA
2006/07
Total
32
NMIA
325,130
Airports Authority | Annual Report 2010 - 2011
Operational Performance cont’d
Financial and Operational Projections
Table 1: Actual and Projected Financial Performance for AAJ Consolidated
KEY PERFORMANCE INDICATORS
(KPI’S)
ACTUAL
2010/11
(JA$M)
BUDGET
2010/11
(JA$M)
BUDGET 2011/12
(JA$M)
3,326.1
2,870.3
3,080.3
(2,720.9)
(2,592.5)
(2,730.7)
(221.9)
141.7
81.5
TAXATION
605.7
(232.8)
(201.3)
NET SURPLUS
989.0
186.7
229.8
1,112.0
1,597.9
735.7
OPERATING INCOME
OPERATING EXPENDITURE
OTHER INCOME (EXPENDITURE)
CAPITAL EXPENDITURE
Table 2: Actual and Projected Financial Performance for AAJ
KEY PERFORMANCE INDICATORS
(KPI’S)
ACTUAL
2010/11
(JA$M)
BUDGET
2010/11
(JA$M)
BUDGET 2011/12
(JA$M)
1,223.6
1,271.8
1,183.0
OPERATING EXPENDITURE
(538.7)
(421.9)
(492.2)
OTHER INCOME (EXPENDITURE)
(164.1)
(85.5)
(87.7)
605.7
(232.8)
(201.3)
1,126.5
531.6
401.8
239.7
1.3
134.7
OPERATING INCOME
TAXATION
NET SURPLUS
CAPITAL EXPENDITURE
Airports Authority | Annual Report 2010 - 2011
33
Operational Performance cont’d
Table 3: Actual and Projected Financial Performance for NMIA Airports Limited
KEY PERFORMANCE INDICATORS
(KPI’S)
ACTUAL
2010/11
BUDGET
2010/11
BUDGET
2011/12
(US$’000)
(US$’000)
(US$’000)
29,201
21,812
26,301
(27,838)
(26,033)
(28,027)
OTHER INCOME (EXPENDITURE)
(3,677)
549
(275)
NET DEFICIT
(2,314)
(3,672)
(2,001)
CAPITAL EXPENDITURE
10,193
17,741
6,988
OPERATING INCOME
OPERATING EXPENDITURE
Table 4: Summary Financial Indicators for NMIA Limited
DESCRIPTION
2010/11
AERONAUTICAL TO TOTAL REVENUE
2011/12
45%
57%
PASSENGER SERVICE FEES
5,499
5,938
SECURITY FEES
1,032
3,825
LANDING FEES
2,713
2,740
846
986
6,169
6,637
CAR PARK
635
602
SPACE RENTAL
991
897
ADVERTISING SPACE RENTALS
758
563
UTILITIES RECOVERY
860
757
3,161
825
725,189
741,884
11,440
11,599
13,281,921
12,741,500
AERONAUTICAL REVENUE (US$’000)
OTHER
NON-AERONAUTICAL REVENUE (US$’000)
CONCESSION FEES
OTHER
REVENUE DRIVERS
PASSENGER THROUGHPUT
AIRCRAFT LANDINGS
CARGO THROUGHPUT
34
Airports Authority | Annual Report 2010 - 2011
Airports Authority | Annual Report 2010 - 2011
0
0
0
0
0
0
0
0
($)
0
0
0
0
0
0
0
0
ALL OTHER
COMPENSATION
INCLUDING
NON-CASH
BENEFITS AS
APPLICABLE
183,100.00
10,180.00
197,660.00
243,860.00
125,620.00
138,300.00
197,840.00
348,601.00
($)
TOTAL
3. Payments totalling $97,500 to external members of Board Sub-committees who are not Directors are not included in the numbers reported above.
2. Board Chairman’s traveling expense relates to invoices for return air travel from his operational base in Montego Bay to Kingston.
Other directors receive a traveling allowance of $35.00 per Km for meetings attended.
* See Executive compensation for the Director /President
($)
HONORARIA
b. Sub-Committee Meetings: i. Sub-committee Chairman: $7,000 per meeting; ii. Members: $3,500 per meeting
33,600.00
1,680.00
8,500.00
149,500.00
20,160.00
177,500.00
115,360.00
15,120.00
110,500.00
128,500.00
20,300.00
35,840.00
156,601.00
($)
VALUE OF
ASSIGNMENT OF
MOTOR VEHICLE
OR
118,000.00
162,000.00
192,000.00
($)
FEES
a. Board Meetings: i. Board Chairman: $16,000 per meeting; ii. Directors: $8,500 per meeting
1. Fees are paid as follows:
NOTES:
Earl Richards - Director/President *
Finance and Audit sub-committee
of the Projects Sub-committee and the
Valerie Simpson - Director & member
Ransford Braham - Director
of the Finance and Audit Sub-committee
Marcus James - Director & chairman
of the projects sub-committee
William Shagoury - Director & member
Fay Hutchinson - Director
the finance and audit sub-committee
Dennis P. Morgan - Director & member of
& chairman of the Projects Sub-committee
Charles Heholt - Vice Chairman of the Board
Mark Hart - Chairman
POSITION OF DIRECTOR
MOTOR VEHICLE
UPKEEP/
TRAVELLING
DIRECTORS’ COMPENSATION: April 2010 - March 2011
Operational Performance cont’d
35
36
2009/10
VP Finance
2009/10
Snr Director HRDA
•
•
•
•
•
•
4,938,480
4,938,480
5,763,404
5,763,404
5,763,404
6,035,920
7,267,023
($)
1,234,620
1,234,620
1,440,851
1,440,851
1,440,851
1,508,980
1,816,756
($)
GRATUITY OR
SALARY PERFORMANCE
INCENTIVE
1,521,936
1,521,936
1,521,936
1,521,936
1,521,936
1,521,936
2,250,636
($)
VALUE OF
ASSIGNMENT
OF MOTOR
VEHICLE
OR
($)
0
0
0
0
0
0
0
OTHER
RETIREMENT
BENEFITS
OR
PENSION
701,640.00
359,361.00
489,318.00
619,275.00
1,113,111.00
710,875.00
912,597.00
($)
($)
TOTAL
114,060
114,060
125,642
125,642
125,642
129,468
8,366,776.00
8,168,458.00
9,341,151.00
9,471,108.00
9,964,944.00
9,907,179.00
146,753 12,393,764.00
($)
OTHER
NON-CASH
ALLOWANCES BENEFITS
All members of the Executive Management are eligible to receive 25% of their annual basic salary as gratuity in lieu of pension benefits.
Executives are eligible to receive $35.00 per Km for travelling
Other Allowances is comprised of meal, clothing and laundry allowances
Non-cash Allowances include Group life & Health Insurance coverage
An Upkeep allowance is paid and is represented in the column labelled “Travelling Allowance.
Non-taxable upkeep, totalling $5,575,500 and the non-cash items (health & pension) are not
reflected in the audited financial statements, nor are they regarded as management compensation.
NOTES
2009/10
2009/10
General Counsel
& Projects
VP Engineering
& Marketing
2009/10
2009/10
Snr VP Operations
VP Com Dev
2009/10
YEAR
President
POSITION OF
SENIOR
EXECUTIVE
* TRAVELLING
ALLOWANCE
SENIOR EXECUTIVE COMPENSATION: April 2010 - March 2011
Operational Performance cont’d
Airports Authority | Annual Report 2010 - 2011
AIRPORTS AURTHORITY OF JAMAICA
FINANCIALS
31 MARCH 2011
INDEPENDENT
AUDITORS’ REPORT
41 to 84,
Airports Authority | Annual Report 2010 - 2011
39
INDEPENDENT
AUDITORS’ REPORT
40
Airports Authority | Annual Report 2010 - 2011
GROUP STATEMENT OF
COMPREHENSIVE INCOME
Year ended 31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
41
GROUP
BALANCE SHEET
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
42
Airports Authority | Annual Report 2010 - 2011
GROUP STATEMENT OF
CHANGES IN EQUITY
Year ended 31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
43
GROUP STATEMENT OF
CASH FLOWS
Year ended 31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
44
Airports Authority | Annual Report 2010 - 2011
AUTHORITY STATEMENT OF
COMPREHENSIVE INCOME
Year ended 31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
45
AUTHORITY
BALANCE SHEET
Year ended 31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
46
Airports Authority | Annual Report 2010 - 2011
AUTHORITY STATEMENT OF
CHANGES IN EQUITY
Year ended 31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
47
AUTHORITY STATEMENT OF
CASH FLOWS
Year ended 31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
48
Airports Authority | Annual Report 2010 - 2011
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
49
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
50
Airports Authority | Annual Report 2010 - 2011
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
51
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
52
Airports Authority | Annual Report 2010 - 2011
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
53
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
54
Airports Authority | Annual Report 2010 - 2011
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
55
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
56
Airports Authority | Annual Report 2010 - 2011
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
57
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
58
Airports Authority | Annual Report 2010 - 2011
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
59
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
60
Airports Authority | Annual Report 2010 - 2011
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
61
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
62
Airports Authority | Annual Report 2010 - 2011
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
63
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
64
Airports Authority | Annual Report 2010 - 2011
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
65
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
66
Airports Authority | Annual Report 2010 - 2011
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
67
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
68
Airports Authority | Annual Report 2010 - 2011
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
69
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
70
Airports Authority | Annual Report 2010 - 2011
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
71
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
72
Airports Authority | Annual Report 2010 - 2011
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
73
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
74
Airports Authority | Annual Report 2010 - 2011
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
75
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
76
Airports Authority | Annual Report 2010 - 2011
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
77
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
78
Airports Authority | Annual Report 2010 - 2011
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
79
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
80
Airports Authority | Annual Report 2010 - 2011
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
81
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
82
Airports Authority | Annual Report 2010 - 2011
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
Airports Authority | Annual Report 2010 - 2011
83
NOTES TO THE
FINANCIAL STATEMENTS
31 March 2011
Expressed in Jamaican dollars unless otherwise indicated
84
Airports Authority | Annual Report 2010 - 2011
AIRPORTS AUTHORITY OF JAMAICA
Administration Building
Norman Manley International Airport
Palisadoes, Kingston
Telephone: (876) 924-8835-7
Fax: (876) 924-8419
E-mail: aaj@aaj.com.jm
Website: www.airportsauthorityjamaica.aero
NORMAN MANLEY INTERNATIONAL AIRPORT
Palisadoes, Kingston
Telephone: (876) 924-8452-6
Fax: (876) 924-8566
Toll Free: 1-888-AIRPORT (247-7678)
E-mail: nmial@aaj.com.jm
Website: www.nmia.aero
AIRPORT OPERATOR: NMIA AIRPORTS LIMITED
(A wholly-owned subsidiary of Airports Authority of Jamaica)
SANGSTER INTERNATIONAL AIRPORT
Sunset Boulevard, Montego Bay
Telephone: (876) 979-1034-5
Fax: (876) 952-6172
AIRPORT OPERATOR: MBJ AIRPORTS LIMITED
IAN FLEMING INTERNATIONAL AIRPORT
Boscobel, St. Mary
Telephone: (876) 975-3101, 975-3734
Fax: (876) 726-4973
E-mail: ifia@aaj.com.jm
Website: www.ifia.aero
TINSON PEN AERODROME
Marcus Garvey Drive, Kingston
Telephone: (876) 923-0022, 757-6560
NEGRIL AERODROME
Negril, Hanover
Telephone: (876) 957-5016
KEN JONES AERODROME
St. Margaret’s Bay, Portland
Telephone: (876) 913-3173
AIRPORTS AUTHORITY OF JAMAICA
PRINTED IN JAMAICA BY PEAR TREE PRESS LTD.
PRINTED WITH
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